Category: Top National News

The Real Deal, June 9, 2017–Kenneth HarneyThe country’s largest source of mortgage money, Fannie Mae, soon plans to ease its debt-to-income (DTI) requirements, potentially opening the door to home purchase mortgages for large numbers of new buyers.

Spokesman-Review (Wash.), June 11, 2017–Tom KellyThe mortgage interest deduction is back in the news, thanks to a new tax plan being floated by the Trump administration. While any altering of the deduction has always been viewed as a slug to the midsection by a majority of homeowners, the number of taxpayers choosing to itemize–and thus use the deduction–is fewer than expected.

Mortgage Daily, June 9, 2017The transaction involves 3,400 Fannie Mae mortgages that have an aggregate unpaid principal balance of $581 million.

Mortgage Daily, May 30, 2017This summer, Fannie Mae is updating its automated underwriting system with more relaxed requirements for ratios, credit and adjustable rates.

Los Angeles Times, May 30, 2017–James Rufus KorenMortgage discrimination lawsuits filed by Los Angeles against Bank of America and Wells Fargo & Co. have hit a roadblock, with a federal appeals court saying the cases spurred by last decade’s housing bust lack merit.

Mortgage Daily, May 30, 2017In the midst of its own regulatory war, Ocwen Financial Corp. is accusing Fidelity Information Services LLC of fraudulent over billing for work required under a settlement with California.

Forbes, May 30, 2017–Trefis TeamThe total mortgage servicing portfolio at the the five largest U.S. banks continues to shrink at a rapid pace, as these banks now service under $3.4 trillion in outstanding U.S. mortgages – down from a figure of almost $3.7 trillion at the end of Q1 2017.

HousingWire, May 30, 2017–Kelsey RamirezOver the next five years, about 6 million Americans will have their bankruptcies disappear, possibly sending a flood of more homebuyers into the housing market.

Bloomberg, May 30, 2017–Matt ScullyDeutsche Bank AG chief John Cryan urged regulators in Europe to reject the same kind of heavy-handed rules for banks’ mortgage holdings that have been adopted by their American counterparts.

HousingWire, May 31, 2017–Brena SwansonA lack of bipartisan support derailed any chance of reforming Fannie Mae and Freddie Mac for years, but the Bipartisan Policy Center is set on correcting this as talks for reform start to resurface.